All Forum Posts by: Wendy Fate

@Nik Moushon That's what we were thinking. She is offering 209,600 with no commission. She listed it at 220,000. We're just not sure if it should be more. We make a killing on the furnished basement, which we said we would include all of the furnishings with it!!

@Michele B. No, it's concrete block and wood frame. Also, see the Airbnb listing with more pictures and rates:https://www.airbnb.com/rooms/13731457?guests=1&adu...

@Jason DiClemente Sorry, the rate spread is for short or long term renters. I see your point. I should give the average, not the range.

@Nik Moushon Yes, our listing agent placed an offer 24 hrs after listing it.

@Kevin S. Thank you! That was helpful!

Yes, our listing agent is trying to buy it!

Thank you all for your input. 

Thank you Jim S. for explaining the analysis with better numbers. I'm new to the calculators.

No it is not a modular home. Concrete block and flood frame.

See more pictures on the listing here: https://www.realtor.com/realestateandhomes-detail/...

Also, see the Airbnb listing with more pictures and rates:https://www.airbnb.com/rooms/13731457?guests=1&adu...

The income spread was based on long term or short term. We get 2,200/mo for 7-12 month rentals for traveling nurses, but we also do annual leases at 1,500/no, as an option. 

This is our home that we are selling.  

Our listing agent has made a full price offer, but she is also the one who did the valuation on the property with nothing included for the rental income or 10,000 worth of furnishings.  We are wondering if it should be valued higher.  We called a few appraisers who said it should be appraised as a commercial property because of the rental income,  but that we are zoned residential so they can't.  Is that true? 

The home is rent ready with new appliances in both units (upstairs and down). The newly renovated walk out daylight basement is a 3/2, has a separate entrance and driveway and is fully furnished with  brand new furniture, decor, furnishings, linens, etc as a vacation rental which produces $2,000/mo. The main level is a 5/2 newly updated with two entrances. Second entrance is into a beautiful bedroom or home office.   This space could easily rent for $1,500/mo unfurnished.

She listed the property at $220,000 which is probably accurate for a residential property, no income and unfurnished.  How do we calculate the actual value and will a bank appraise it with the furnishings, new appliances and rental income.

Help!

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*This link comes directly from our calculators, based on information input by the member who posted.